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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 25 38.89%
of those in investment advisory functions 6 -14.29%
Registration SEC, Approved, 03/30/2012
AUM* 3,831,905,383 4.38%
of that, discretionary 3,831,905,383 4.38%
Private Fund GAV* 3,831,905,382 4.38%
Avg Account Size 87,088,759 -73.91%
SMA’s No
Private Funds 43 32
Contact Info 650 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses
- Selection of other advisers

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
4B 3B 3B 2B 2B 1B 540M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeVenture Capital Fund Count43 GAV$3,831,905,382

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Brochure Summary

Overview

Next Legacy Management, LLC (“Next Legacy Partners” or “Next Legacy”) is a combination of Legacy Venture Management, LLC (“Legacy Venture”) and Next Play Capital, LLC (“Next Play”), both venture firms headquartered in Silicon Valley, California. Legacy Venture Management, LLC was formed in 1999. Next Play Capital, LLC was formed in 2014. The combined firms was effective as of May 11, 2023. Next Legacy Management, LLC is principally and equally owned by Ben Choi, Kelli Cullinane, and Ryan Nece. Next Legacy Partners is a mission-driven venture capital firm that seeks to democratizes access to venture capital by investing on behalf of philanthropists, foundations, endowments, athletes, and other centers of influence. Next Legacy Partners provides discretionary investment advisory services managing $3,831,905,383 in regulatory assets under management (as of December 31, 2023) in private investment funds, which include Next Legacy’s private investment funds (the “Next Legacy Funds”), Legacy Venture private investment funds (the “LV Funds”), Next Play Capital private investment funds (the “NPC Funds”), and special purpose vehicles (the “SPVs”, and together with the NPC Funds, the LV Funds, and the Next Legacy Funds, the “Funds”). In addition, Next Legacy provides discretionary advisory services for separately managed accounts (the “Managed Accounts” and, together with the Funds, are the “Advisory Clients”). Next Legacy does not manage any assets on a non-discretionary basis. All investors in the Funds (“Investors”) are provided with a Private Placement Memorandum (“PPM”) and/or operating
agreement and are urged to review it carefully. Next Legacy does not tailor its advisory services to the individual needs of Investors and Investors may not impose restrictions on investing in certain securities or types of securities of the Funds. Each Fund’s PPM and/or operating agreement sets forth such Fund’s investment strategy, including guidelines regarding the types of securities the Fund will invest in and portfolio limits. In accordance with common industry practice, one or more of the Next Legacy Funds or their general partners have entered into “side letters” or similar agreements with certain investors pursuant to which the general partner granted the investor specific rights, benefits, or privileges that were not made available to investors generally. Next Legacy may in the future enter into additional agreements, or “side letters,” with certain 2 0 2 4 N E X T L E G A C Y P A R T N E R S 5 prospective or existing Fund Investors whereby such Fund Investors may be subject to terms and conditions that are more advantageous than those set forth in the offering memorandum/operating agreement for a given Fund. Next Legacy does not participate in any wrap fee programs. The Managed Account’s investment objectives and the types of investments that such portfolio will hold are individually negotiated and established between Next Legacy and the Managed Account. Next Legacy has full and exclusive management authority over all investments, asset dispositions, distributions, and other affairs of the Funds. 2 0 2 4 N E X T L E G A C Y P A R T N E R S 6